STR: Preliminary December data for Singapore hotels
 
STR: Preliminary December data for Singapore hotels
12 JANUARY 2018 9:36 AM

Hotels in Singapore reported mixed year-over-year results in December, according to preliminary data from STR. Occupancy grew 0.3% to 76%, while ADR dropped 2.1% to 275.02 Singapore dollars ($206.76) and RevPAR decreased 1.8% to 209.01 Singapore dollars ($157.13). 

LONDON—STR’s preliminary December 2017 data for hotels in Singapore indicates slight occupancy growth with lower room rates.

Based on daily data from December, Singapore reported the following in year-over-year comparisons:

  • Supply: +5.1%
  • Demand: +5.5%
  • Occupancy: +0.3% to 76.0%
  • Average daily rate (ADR): -2.1% to SGD275.02
  • Revenue per available room (RevPAR): -1.8% to SGD209.01

Due to supply growth, occupancy was nearly flat year over year despite a significant rise in demand. ADR declined for the 22nd consecutive month, and absolute RevPAR was the lowest for a December in Singapore since 2009. STR analysts note that Singapore’s performance continued to be pressured as new supply brings tighter competition into the market.

STR will release full December and total-year 2017 results later this month. The January edition of STR’s market forecast will be available by the end of the month.

About STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.

Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.